Does Virginia tax self-employment income?

Yes. Virginia taxes your net self-employment profit as personal income. Virginia's top rate starts at a low income level, so most freelancers effectively pay close to 5.75%.

Do I still owe self-employment tax?

Yes. Self-employment tax (Social Security and Medicare, 15.3% on 92.35% of net profit) is federal and applies in every state.

How much should I set aside?

Use the monthly set-aside figure in the calculator above, then add the state tax shown here. Most 1099 workers set aside 25-35% of profit.

Virginia 1099 Take-Home Calculator

Federal income tax and self-employment tax first, then Virginia state income tax on top. Free, no signup, 2026 rules.

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Your Numbers

Gross Annual Income

Estimated Annual Business Expenses

Net Business Profit$77,000

Your Take-Home

True Annual Take-Home

$59,005

True Monthly Take-Home

$4,917

Federal Income Tax$7,115

Self-Employment Tax$10,880

Total Estimated Tax

$17,995

Set aside for tax

Nobody withholds tax for you, so this is the money to keep back.

Every month$1,500

Effective tax rate on gross21.2%

You keep 77%Tax 23%

Estimated quarterly payments

Q1 (Jan–Mar) · due 15 April 2026$4,499
Q2 (Apr–May) · due 15 June 2026$4,499
Q3 (Jun–Aug) · due 15 September 2026$4,499
Q4 (Sep–Dec) · due 15 January 2027$4,499

Auto-set aside your quarterly taxes with Found

Free business banking that estimates your tax bill and ring-fences the cash as you get paid. Partner offer.

As a W-2 employee on the same pay

Take-home that way$68,426

Difference+$9,420

An employee's payroll tax is split with their employer, so the same gross pay keeps more. The gap is roughly the premium you should build into your contractor rate (before benefits).

Estimates only. Based on 2026 US federal tax rules for single/standard filers. Does not include state, local, or other tax obligations. Consult a qualified accountant.

Adding Virginia state income tax

Take-home after federal taxes: $59,005
Virginia state income tax: − $4,170
True take-home in VA: $54,835
That's per month: $4,570

Virginia's top rate starts at a low income level, so most freelancers effectively pay close to 5.75%.

FAQ

Does Virginia tax self-employment income?: Yes. Virginia taxes your net self-employment profit as personal income. Virginia's top rate starts at a low income level, so most freelancers effectively pay close to 5.75%.
Do I still owe self-employment tax?: Yes. Self-employment tax (Social Security and Medicare, 15.3% on 92.35% of net profit) is federal and applies in every state.
How much should I set aside?: Use the monthly set-aside figure in the calculator above, then add the state tax shown here. Most 1099 workers set aside 25-35% of profit.

Virginia's top rate starts at a low income level, so most freelancers effectively pay close to 5.75%. Estimates only, single filer, before state deductions and credits — not tax advice.

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